Market Power

Musings by an academic economist on the power of markets and the power over markets.

Tuesday, March 29, 2005

House Prices

What can $479,500 buy in Mankato, Mn? This lovely 5 bed 4 bath house:

What can $329,000 get you in Mankato, Mn? This 5 bedroom, 2 bath acreage with a river view:

What can $329,000 get you in Sioux City, Ia? This nice new home:

What can $309,000 buy in Fresno, Ca? This 3 bed 2 bath house on a really small piece of land:

What can $439,000 buy in Carpinteria, Ca? This trailer home:

Is there a housing bubble in California? To what extent does the price differential between trailer homes in Carpinteria and trailer homes in, say, Missouri reflect the benefits people get from living by the Pacific Ocean in a temperate climate?